QSE Edges Up on Local Retail Investors’ Buying Support

The Qatar Stock Exchange on Monday closed five points higher despite strong buying interests from domestic funds.

The insurance, consumer goods and telecom counters witnessed higher than average demand as the 20-stock Qatar Index rose 0.05% to 10,610.47 points, recovering from an intraday low of 10,579 points.

More than 45% of the traded constituents extended gains in the main bourse, whose capitalisation was up QR0.53bn or 0.09% to QR621.07bn on the back of microcap segments.

The local retail investors were increasingly net buyers in the main market, which saw as many as 5,389 exchange traded funds (sponsored by Masraf Al Rayan) valued at QR0.01mn changed hands across four deals.

The foreign individuals turned bullish in the main bourse, whose trade turnover and volumes were on the increase.

The Islamic index was seen gaining faster than the other indices of the main market, which saw no trading of treasury bills.

The Gulf retail investors’ weakened net selling had its influence on the main bourse, which saw no trading of sovereign bonds.

The Total Return Index was up 0.05%, the All Share Index by 0.04% and the All Islamic Index by 0.09% in the main market.

The insurance sector index rose 0.5%, consumer goods and services (0.49%), telecom (0.39%) and industrials (0.06%); while transport declined 0.39%, real estate (0.17%) and banks and financial services (0.01%).

Major gainers in the main market included Salam International Investment, Ahlibank Qatar, Zad Holding, Ezdan, QLM, Qatar Islamic Bank, Aamal Company, Estithmar Holding and Ooredoo.

Nevertheless, Qamco, Dukhan Bank, Mekdam Holding, Baladna and United Development Company were among the shakers in the main bourse. In the venture market, both Al Mahhar Holding and Techno Q saw their shares depreciate in value.

The domestic institutions turned net buyers to the tune of QR45.6mn compared with net sellers of QR13.46mn on February 16.

The Qatari individual investors’ net buying increased perceptibly to QR8.84mn against QR6.44mn the previous day.

The foreign individuals were net buyers to the extent of QR3.41mn compared with net sellers of QR1.59mn on Sunday.

The Gulf retail investors’ net profit booking weakened marginally to QR1.47mn against QR2.69mn on February 16.

However, the foreign funds turned net sellers to the tune of QR48.59mn compared with net buyers of QR0.43mn the previous day.

The Gulf institutions were net profit takers to the extent of QR6.69mn against net buyers of QR0.78mn on Sunday.

The Arab retail investors turned net sellers to the tune of QR1.09mn compared with net buyers of QR10.1mn on February 16.

The Arab institutions had no major net exposure for the second straight session.

Trade volumes in the main market soared 36% to 185.75mn shares, value by 25% to QR375.44mn and deals by 47% to 13,328.

The venture market saw a 94% plunge in trade volumes to 0.26mn equities and 95% in value to QR0.64mn but on 14% jump in transactions to 24.